BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline down.
A continuation of the downward movement down to the next support at 114640.140000000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 118575.000000000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 124474.000000000 |
| 2nd High | 119216.820000000 |
| Next High | 118575.000000000 |
| Current Price | 116313.990000000 |
| Next Low | 114640.140000000 |
| 2nd Low | 114259.000000000 |
| 3rd Low | 112650.000000000 |
118575.000000000 – 117898.990000000 – 119216.820000000 – 114640.140000000 – 117172.210000000 – 117143.980000000 — 53.479699321122 – 51.283289326397
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –